Explain The Strategic Planning Process

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• Explain the strategic planning process As we learned from the textbook, there are elven classic steps for the strategic planning process. In this paper, I will explain each of them and discuss the inputs and outputs of each stage. 1. Preparation In preparation stage, the goal is to have a clear understanding about the organization policies, cultures, advantages, disadvantages, its competitors and market analysis. The inputs in this stage are top managers’ kick-off meeting, and the analysis of marketing. The outputs in this stage are marketing report, and organization basic information summary report. 2. Review and revision of vision/mission/values In review and revision of vision and mission values stage, the goal is to establish passionate…show more content…
The inputs in this stage are a strategic plan basis, communication meetings, and interviews with top executives. The output in this stage is a refined strategic plan. 7. Review of the strategic plan In review of the strategic plan stage, the goal is to review and update the strategic plan. The inputs in this stage are top executives reviews, meeting notes, updated records, problems and issues records, a strategic plan basis, and communications. The output in this stage is the updated strategic plan. 8. Approval of the strategic plan In approval of the strategic plan stage, the goal is to get approval for the updated strategic plan. The inputs in this stage are all top stakeholders communication and feedbacks, and the updated strategic plan for review. The output in this stage is the approved strategic plan. 9. Communication of the strategic plan In communication of the strategic plan stage, the goal is to communicate with all related departments for the strategic plan. The inputs in this stage are weekly review meetings, monitoring progress, work performance results and assessments. The outputs in this stage are meeting notes, communication reports and strategic plan progress report 10. Predetermined reviews against the…show more content…
SWOT analysis includes organization strengths, weaknesses, opportunities, and threats analysis. It can clearly show what the advantages of the organization are, what are the disadvantages for the organization. It helps the stakeholders establish a good understanding about XYZ credit union bank. The benefit for SWOT analysis when XYZ bank creates a strategy is a well understanding of the organization, which includes the internal analysis and external environment analysis. It provides a line to stakeholders to make strategic plan and strategies for achieving the organization goals, missions, and its vision. The cost is taking resource to take time to collect the information, communications, and interview with top executives and marketing

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